Today’s session focuses on important macroeconomic data from both Europe and the United States, which may set the tone for markets ahead of further investment decisions.
In Europe, markets are primarily focused on PMI readings for the services sector in Spain, Italy, France, Germany, Sweden, and across the eurozone. These data will help assess the current economic condition of the region, the dynamics of the services sector, and potential risks to economic growth. Markets will watch the PMI in the context of global trends, particularly in the services sector, which is sensitive to changes in demand and consumer sentiment.
In the United States, market attention is on the ADP employment report for the private sector and the ISM services index. These releases will provide insights into the labor market and business activity in the economy, which is especially important amid the ongoing US government shutdown, adding uncertainty and increased volatility to financial markets. The US corporate earnings season is also still ongoing, further influencing fluctuations in the technology and financial sectors.
Markets will closely analyze these publications to assess both the current economic conditions and potential implications for monetary policy in the coming months. Stronger-than-expected indicators could boost risk appetite and support cyclical assets, while weaker readings may increase risk aversion and drive demand for safe-haven assets such as government bonds or the Swiss franc.
Today’s Calendar (CET)
08:00 Germany – Industrial Orders for September
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s.a. (m/m): actual 1.1% (forecast 1%; previous -0.4%)
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n.s.a. (y/y): 1.5%
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w.d.a. (y/y): actual -4.3% (previous 2.1%)
08:45 France – Industrial Production m/m for September: 0.1% (previous -0.7%)
09:00 Czech Republic – Preliminary CPI (October)
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m/m: 0.3% (previous -0.6%)
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y/y: 2.3%
09:15 Spain – Services PMI (October): 54.6 (previous 54.3)
09:30 Sweden – Interest Rate Decision (November): 1.75% (unchanged)
09:45 Italy – Services PMI (October): 53 (previous 52.5)
09:50 France – Financial Services PMI (October): 47.1 (previous 48.5)
09:55 Germany – Financial Services PMI (October): 54.5 (previous 51.5)
10:00 Eurozone – Financial Services PMI (October): 52.6 (previous 51.3)
10:00 Italy – Retail Sales s.a. m/m (September): 0.2% (previous -0.1%)
10:30 UK – Financial Services PMI (October): 51.1 (previous 50.8)
11:00 Eurozone – Producer Price Index PPI (September)
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m/m: -0.1% (previous -0.3%)
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y/y: -0.2% (previous -0.6%)
11:00 Germany – Public speech by Bundesbank President Joachim Nagel
13:00 USA – Mortgage Applications (weekly): 7.1%
14:00 Hungary – NBH Meeting Minutes (October)
14:15 USA – ADP Employment Report (October): 28k (previous -32k)
15:45 USA – Financial Services PMI (October): 55.2 (previous 54.2)
16:00 USA – ISM Services Report (October)
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ISM Services Index: 50.7 (previous 50)
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Business Activity Index: 49.9
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Employment Index (ISM Services): 47.2
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Prices Paid Index: 69.4
16:00 Poland – MPC Statement (November)
16:30 USA – Weekly Petroleum Stock Change (weekly)
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Crude Oil Change: +1 million bbl (previous -6.86 million bbl)
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Gasoline Change: -1.1 million bbl (previous -5.94 million bbl)
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Distillates Change: -2 million bbl (previous -3.36 million bbl)
Earnings Calendar (before Wall Street session)
- Novo Nordisk
- McDonald’s Corporation
After Wall Street session
- Qualcomm Incorporated
- Arm Holdings
- Applovin Corporation
Arista Networks drops 12% despite solid earnings📉Guidance triggered profit-taking on Wall Street
BREAKING: UK final PMI higher than expectations!
DE40: European stocks under tech pressure
BREAKING: Eurozone PPI in line with expectations.
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